Replies to post #127937 on Zeev's Turnips Patch-No Politics (ZEEV)

[orkrious]

jerry, you like CDWC on a dip?

tia

ork

[S Chun-Li]

Hi, I agree with your comments that BPNDX and BPSPX are not too useful. My reasoning is that they are large caps and tend to move together, thus a high figure can exist close to the beginning of an upmove.

BPCOMPQ however contains many small fry and is more likely to reach a higher value towards the end of a run. I only partially agree that you need to wait for a turndown, history shows that most times just a high level of BPCOMPQ means that a top is nearby. But as Zeev says, dont rely on one indicator, an use stops. Then when you get an excpetion to "most times" you are OK.

I would like to learn how BPCOMPQ and BPOTC differ? Do they have different components? If BPOTC has a larger number of small fry then I think it might be a better on e to use.

[lee kramer]

A chart is a chart is a chart. Bar charts, candles P&F's Gotta read 'em. listen to what they say. They all talk.

[bethere]

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[gottfried]

Jerry, [edited] re bp: I agree that many who use it may not realize the origins of bp are in PnF and bp was reported only once a week by Dorsey Wright. But I disagree with "i would completely elliminate the BPCOMPX...the true NAZDAQ BP is the OTC on Dorsey Wright Site..Not stockcharts.com..." because it sounds like "my religion is the only true religion". :)

Stockcharts actually posts a list of all compq stocks it uses.
Dorsey Wright's list is proprietary, so not available to us.

Still, those using bp should definitely get an understanding how a stock makes a PnF buy or sell signal and thus is added or dropped from its bp group. Both, Stockcharts and Dorsey Wright, have tutorials on this, as you know. But studying Tom Dorsey's book is best.

[edit in] Chartcraft, Tom Dorsey's mentors, also have tutorials http://www.investorsintelligence.com/x/869n.html?sid=84067

Gottfried

[augieboo]

"the true use of any BP is based on "ALL" the BP's together...the 3 main BP's are the NYSE-OTC & OPTI..they are ALL in X's and moving higher and higher..they have NOT given a sell signal"
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Uh, Jerry, just thought I'd point out that DWA has more sector BP charts than any other site I know of.